Meituan becomes the latest Chinese tech major to begin large-scale layoffs. Companies are replacing veteran employees with cheaper new hands.
New Oriental is among several tutoring companies pivoting to new business ventures after China’s crackdown on the private tutoring industry last July.
A new photo editing feature that lets netizens create selfies looking like they’re in the last century has gone viral in China. Picture of My Past Life in Chinese (前世青年照) has collected over 80 million pictures over the past few days, boosting the app behind it, Tiantian P-Tu (天天P图), to the second most popular app […]
South Korea is a hotbed for VR. Between the country’s major hardware tech brands (think Samsung, LG) and a seriously well-funded culture industry that includes K-pop and Korean TV dramas, South Korea his primed for the technical and content requirements of next generation VR. The country’s entertainment industry has also spawned a thriving grassroots startup […]
Alibaba has taken another step in its quest to build a new retail empire. The Chinese tech titan announced today that it will invest approximately RMB 5.45 billion (around $866 million) for a 15% stake in Easyhome (居然之家), China’s leading home improvement supplies and furniture chain operator. Alibaba will support the digital transformation of Easyhome’s […]
AI is a threat to privacy—this is how 76.3% of Chinese people feel about artificial intelligence technology according to a survey of 8,000 participants carried out by CCTV and Tencent Research. Facial recognition was the usage of AI for which respondents had the highest awareness, and over half felt AI was already having an impact […]
Brain King (大脑王者), a popular quiz-like social game, became the first WeChat mini program to get a taste of the long arm of Chinese regulators. On Tuesday night, the mini program was suspended. Tencent’s WeChat team announced that Brain King violated rules for managing public information services on IM platforms and urged mini programs to rectify themselves, […]
Huami, a smart wearable device maker for Chinese smartphone unicorn Xiaomi, has officially been listed on New York Stock Exchange (NYSE) under the ticker symbol “HMI,” and has raised $110 million by offering 10 million shares at $11, the mid-point of the planned price range of $10-$12. This comes a few days after the CEO […]
China’s overall internet speeds for the third quarter have surpassed 15Mbits per second for both download and upload, mobile and fixed line broadband, celebrated as the “double double”, according to the “China Broadband Speed Report” from the country’s Broadband Development Alliance (in Chinese). Fixed line broadband speeds have increased for 11 consecutive quarters since the 2015 […]
It’s no secret that China remains a leading force in the mobile payments sector thanks to the easy access of smartphones. In 2016, the transaction volume of mobile payments in China has reached RMB 35.33 trillion ($5.61 trillion), and is projected to reach RMB 295.99 trillion ($47 trillion) in 2019, according to research firm Analysys […]